Franks International (FI) Rating Lowered to Hold at Zacks Investment Research

Franks International (NYSE:FI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday.

According to Zacks, “Frank’s International N.V. is a provider of engineered tubular services to the oil and gas industry. Its tubular services include the handling and installation of multiple joints of pipe to establish a cased wellbore; and the installation of smaller diameter pipe inside a cased wellbore to provide a conduit for produced oil and gas to reach the surface. The Company provides its services to exploration and production companies in both offshore and onshore environments, with a focus on complex and technically demanding wells. Frank’s International N.V. is based in Amsterdam, the Netherlands. “

A number of other equities research analysts also recently commented on FI. Jefferies Financial Group restated a “hold” rating and issued a $7.00 price objective on shares of Franks International in a research report on Friday, July 13th. Piper Jaffray Companies restated a “hold” rating and issued a $6.75 price objective on shares of Franks International in a research report on Friday, July 20th. ValuEngine upgraded shares of Franks International from a “hold” rating to a “buy” rating in a research report on Monday, July 30th. Seaport Global Securities set a $8.00 price objective on shares of Franks International and gave the company a “hold” rating in a research report on Thursday, August 9th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $11.00 price objective on shares of Franks International in a research report on Thursday, August 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $8.11.

Shares of FI traded down $0.28 during mid-day trading on Thursday, hitting $7.72. 393,600 shares of the company’s stock were exchanged, compared to its average volume of 832,219. Franks International has a fifty-two week low of $4.93 and a fifty-two week high of $9.75. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of -12.66 and a beta of 1.32.

Franks International (NYSE:FI) last announced its earnings results on Tuesday, November 6th. The pipeline company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.05. The business had revenue of $129.00 million during the quarter, compared to the consensus estimate of $126.82 million. Franks International had a negative net margin of 37.17% and a negative return on equity of 12.65%. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.11) earnings per share. As a group, sell-side analysts forecast that Franks International will post -0.47 earnings per share for the current fiscal year.

In other Franks International news, major shareholder Erich Mosing sold 11,900 shares of the stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $8.70, for a total value of $103,530.00. Following the completion of the transaction, the insider now directly owns 176,757 shares of the company’s stock, valued at $1,537,785.90. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Melanie Christine Mosing sold 300,000 shares of the stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $8.86, for a total transaction of $2,658,000.00. Following the completion of the transaction, the insider now directly owns 9,570,659 shares of the company’s stock, valued at $84,796,038.74. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,692,862 shares of company stock valued at $46,624,937. 67.60% of the stock is owned by insiders.

Institutional investors have recently modified their holdings of the business. Schwab Charles Investment Management Inc. increased its holdings in Franks International by 88.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 421,557 shares of the pipeline company’s stock valued at $3,289,000 after buying an additional 198,409 shares in the last quarter. Price Capital Management Inc. purchased a new position in shares of Franks International during the 2nd quarter worth approximately $770,000. Swiss National Bank increased its stake in shares of Franks International by 40.4% during the 2nd quarter. Swiss National Bank now owns 136,200 shares of the pipeline company’s stock worth $1,062,000 after purchasing an additional 39,200 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Franks International by 657.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,095,107 shares of the pipeline company’s stock worth $16,342,000 after purchasing an additional 1,818,428 shares in the last quarter. Finally, Brown Advisory Inc. purchased a new position in shares of Franks International during the 2nd quarter worth approximately $1,135,000. 34.11% of the stock is owned by institutional investors.

About Franks International

Frank's International N.V. provides various engineered tubular services for the oil and gas exploration and production, and oilfield services companies in the United States, Europe, the Middle East, Africa, Latin America, the Asia Pacific, and internationally. The company operates through four segments: International Services, U.S.

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